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This Shiba Inu Metric Explodes by Almost 20,000%, SHIB Rally Incoming?

This Shiba Inu Metric Explodes by Almost 20,000%, SHIB Rally Incoming?

TL;DR

  • Shiba Inu has seen a dramatic increase in its burn rate, with over 173 million tokens recently removed, building on the previous month’s burn of nearly 1.5 billion tokens.
  • The burn strategy is aimed at reducing SHIB’s supply to potentially enhance its value, coinciding with the cryptocurrency’s recent price uptick of 9% in two weeks and 15% over a month.
  • The development of Shibarium, a layer-2 blockchain solution, could also positively influence SHIB’s price, recently surpassing 1.5 million blocks, indicating significant progress.